ModelRisk

ModelRisk by Vose Software is a heavyweight Monte Carlo risk-analysis and decision-support tool aimed at risk managers, modelers, and analysts across finance, insurance, energy, project finance and consulting. Its primary purpose is to let practitioners build transparent probabilistic models, run large-scale simulations, and produce robust sensitivity, contribution-to-risk and scenario analyses that support capital allocation, pricing and strategic decisions. The user interface centers on an Excel-friendly modelling paradigm: a dedicated, well-documented add-in and standalone workbook environment that lets experienced spreadsheet users define distributions, correlations, and custom functions without abandoning familiar workflows. While novices may need an initial orientation, the interface is designed to make model structure visible and traceable, with clear dialogs for distribution selection, sampling options and report configuration. Functionality is rich — native support for dozens of probability distributions, correlation matrices, Latin Hypercube sampling, variance reduction techniques, headroom and shortfall metrics, automated sensitivity and tornado analysis, bootstrap and scenario engines, and outputs formatted for reporting and regulatory review. Distinctive features include precise distribution-fitting tools, strong diagnostic plots, and model-auditing facilities that reduce the black-box feel of many stochastic engines.